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• GBP/NZD initially gained on Tuesday but gave up some ground after data showed Britain's labour market lost a bit more of its inflationary heat.
• Data showed Britain's unemployment rate rose by more-than-expected. The UK unemployment rate in the three months to February rose to 4.2% from 3.9%.
• In an up-and-down session, the pair hit high at 2.1200 in early trading then dipped towards 2.1130.
• Technical are bullish, daily RSI is negative at 62, daily momentum studies 9 and 10 SMAs are trending up.
• Immediate resistance is located at 2.1160 (23.6%fib ), any close above will push the pair towards 2.1200(Daily high).
• Strong support is seen at 2.1062 ( Daily low) and break below could take the pair towards 2.1009 (5SMA)
Recommendation: Good to buy around 2.1120, with stop loss of 2.1000 and target price of 2.1250
